STATEMENTS OF NET POSITION COLUMBIA. (in thousands of dollars)

2016 Financial Report and Supplemental Schedules 122

STATEMENTS OF NET POSITION COLUMBIA (in thousands of dollars) Fiscal Year Ended June 30, 2016 2015 2014 2013 Assets Current Assets Cash and Cash Equivalents $ 50,172 $ 46,418 $ 19,069 $ 16,655 Investment in Treasury General Pool 724,635 648,718 591,745 554,490 Short Term Investments 3,994 2,839 4,290 6,717 Accounts Receivable, Net 111,281 98,617 102,144 97,460 Pledges Receivable, Net 12,537 11,607 10,453 8,034 Investment Settlements Receivable Notes Receivable, Net 4,018 4,059 4,007 3,873 Inventories 14,638 18,142 16,600 18,699 Prepaid Expenses and Other Current Assets 13,628 10,692 8,791 8,196 Total Current Assets 934,903 841,092 757,099 714,124 Noncurrent Assets Pledges Receivable, Net 27,859 31,086 35,642 36,770 Notes Receivable, Net 69,729 72,441 88,968 76,502 Deferred Charges and Other Assets Long Term Investments 834,324 852,332 849,907 733,211 Capital Assets, Net 1,615,527 1,578,791 1,517,425 1,459,947 Total Noncurrent Assets 2,547,439 2,534,650 2,491,942 2,306,430 Total Assets $ 3,482,342 $ 3,375,742 $ 3,249,041 $ 3,020,554 Liabilities Current Liabilities Accounts Payable $ 36,356 $ 42,021 $ 38,283 $ 30,315 Accrued Liabilities 47,762 50,240 47,513 46,971 Deferred Revenue 52,173 55,239 54,884 51,834 Funds Held for Others 57,032 58,013 57,150 50,217 Investment Settlements Payable Collateral Held for Securities Lending Current Portion of Long Term Debt 19,794 19,874 17,575 17,182 Long Term Debt Subject to Remarketing Total Current Liabilities 213,117 225,387 215,405 196,519 Noncurrent Liabilities Long Term Debt 714,599 690,264 657,126 588,651 Other Noncurrent Liabilities 8,800 9,920 9,282 8,262 Total Noncurrent Liabilities 723,399 700,184 666,408 596,913 Total Liabilities 936,516 925,571 881,813 793,432 Net Position Invested in Capital Assets, Net of Debt 945,243 931,638 913,535 906,059 Restricted Nonexpendable Endowment 644,297 649,105 635,600 542,642 Expendable Scholarship, Research, Instruction & Other 202,340 222,216 208,160 190,226 Loans 42,843 42,187 41,225 40,286 Capital Projects 32,113 20,899 23,340 14,546 Unrestricted 678,990 584,126 545,368 533,363 Total Net Position 2,545,826 2,450,171 2,367,228 2,227,122 Total Liabilities & Net Position $ 3,482,342 $ 3,375,742 $ 3,249,041 $ 3,020,554 123 Note: The numbers above include Extension

CHANGES IN NET POSITION COLUMBIA (in thousands of dollars) Fiscal Year Ended June 30, 2016 2015 2014 2013 Operating Revenues Tuition and Fees, Net $ 470,880 $ 454,818 $ 428,681 $ 416,611 Less: Scholarship Allowances 115,226 111,312 104,688 105,367 Net Tuition and Fees 355,654 343,506 323,993 311,244 Federal Grants and Contracts 109,182 113,090 112,979 128,180 State and Local Grants and Contracts 42,433 38,335 32,688 37,287 Private Grants and Contracts 45,272 42,458 48,118 46,911 Sales and Services of Educational Activities 15,848 17,543 16,699 16,431 Auxiliary Enterprises Patient Medical Services, Net 192,330 174,971 166,756 163,060 Housing and Dining Services, Net 75,157 73,908 70,497 72,616 Bookstores 53,763 55,021 53,544 54,733 Other Auxiliary Enterprises, Net 162,508 150,324 133,965 134,185 Other Operating Revenues 36,000 34,652 33,361 31,910 Total Operating Revenues 1,088,147 1,043,808 992,600 996,557 Operating Expenses Salaries and Wages 746,767 728,158 698,116 688,699 Benefits 203,434 199,752 192,676 180,763 Supplies, Services and Other Operating Expenses 295,624 287,826 273,560 271,589 Scholarships and Fellowships 37,645 34,683 33,989 31,520 Depreciation 78,252 79,130 76,754 72,805 Total Operating Expenses 1,361,722 1,329,549 1,275,095 1,245,376 Operating Loss before State Appropriation (273,575) (285,741) (282,495) (248,819) State Appropriations 224,081 219,548 205,505 195,468 Operating Inc (Loss) after State Appropriation, before Nonoperating Revenues (Expenses) (49,494) (66,193) (76,990) (53,351) Nonoperating Revenues (Expenses) Federal Appropriations 17,292 18,702 17,967 18,693 Federal Pell Grants 22,521 23,268 23,196 23,294 Investment & Endowment Inc (Losses), Net 4,913 22,817 112,997 77,642 Private Gifts 44,164 34,820 40,254 36,809 Interest Expense (24,949) (23,873) (23,337) (17,921) Other Nonoperating Revenues (Expenses) (6,284) (1,039) 1,311 (906) Net Nonoperating Revenues (Expenses) 57,657 74,695 172,388 137,611 Income (Loss) before Capital Contributions and Additions to Permanent Endowments 8,163 8,502 95,398 84,260 State Capital Appropriations 22,248 2,545 745 Capital Gifts and Grants 7,740 9,496 7,167 13,432 Private Gifts for Endowment Purposes 25,203 24,085 36,639 25,808 Extraordinary Item/Special Item Mandatory Transfers In (Out) 60 1,224 356 368 Non Mandatory Transfers In (Out) 6,024 (536) (15) 8,471 Intra Fund Transfers In (Out) 26,217 37,627 561 2,096 Increase (Decrease) in Net Position 95,655 82,943 140,106 135,180 Net Position, Beginning of Year 2,450,171 2,367,228 2,227,122 2,091,942 Cumulative Effect of Change in Accounting Principles Net Position, Beginning of Year, as Adjusted 2,450,171 2,367,228 2,227,122 2,091,942 Net Position, End of Year $ 2,545,826 $ 2,450,171 $ 2,367,228 $ 2,227,122 124 Note: The numbers above include Extension

STATEMENT OF CASH FLOWS COLUMBIA (in thousands of dollars) Fiscal Year Ended June 30, 2016 2015 2014 2013 Cash Flows From Operating Activities Tuition and Fees $ 355,365 $ 345,692 $ 326,440 $ 311,544 Federal, State and Private Grants and Contracts 192,201 193,332 196,403 188,598 Sales and Services of Educational Activities and Other Auxiliaries 175,509 167,028 150,054 152,480 Patient Care Revenues 190,019 173,557 166,259 161,639 Student Housing Fees 75,812 73,810 70,324 72,670 Bookstore Collections 50,949 59,242 49,138 54,932 Payments to Suppliers (300,721) (287,530) (264,088) (259,010) Payments to Employees (750,366) (726,656) (696,614) (649,725) Payments for Benefits (203,434) (199,752) (192,676) (170,077) Payments for Scholarships and Fellowships (37,645) (34,683) (33,989) (31,520) Student Loans Issued (3,074) (3,074) (4,776) (4,512) Student Loans Collected 4,876 5,037 4,291 4,287 Student Loan Interest and Fees 865 780 778 607 Other Receipts, Net 35,561 34,131 32,865 32,514 Net Cash Used in Operating Activities (214,083) (199,086) (195,591) (135,573) Cash Flows from Noncapital Financing Activities State Educational Appropriations 220,195 218,191 205,505 170,422 Federal Appropriations and Pell Grants 40,258 43,704 40,150 30,350 Private Gifts 46,461 38,222 38,963 27,154 Endowment and Similar Funds Gifts 25,203 24,085 36,639 25,779 Other Noncapital Receipts, Including Net Transfers 31,405 37,382 (1,334) 9,363 Deposits of Affiliates (980) 862 6,933 3,581 Net Cash Provided by Noncapital Financing Activities 362,542 362,446 326,856 266,649 Cash Flows from Capital and Related Financing Activities Capital State Appropriations 22,248 2,545 745 Capital Gifts and Grants 7,740 9,496 7,167 13,432 Proceeds from Sales of Capital Assets 1,021 1,922 4,009 810 Purchase of Capital Assets (121,396) (142,524) (148,498) (111,379) Proceeds from Issuance of Capital Debt, Net 44,100 53,515 86,153 562 Principal Payments on Capital Debt (19,845) (18,078) (17,285) (28,261) Payments on Capital Lease Payments of Bond Issuance Costs Interest Payments on Capital Debt (26,904) (26,109) (23,277) (23,728) Net Cash Provided by (Used in) Capital and Related Financing Activities (93,036) (119,233) (91,731) (147,819) Cash Flows from Investing Activities Interest and Dividends on Investments (2,918) 33,720 17,694 17,935 Purchase of Investments, Net of Sales and Maturities 24,684 2,375 (17,559) (47,796) Other Investing Activites 2,482 4,100 Net Cash Provided by (Used in) Investing Activities 24,248 40,195 135 (29,861) Net Increase (Decrease) in Cash and Cash Equivalents 79,671 84,322 39,669 (46,604) Cash and Cash Equivalents, Beginning of Year 695,136 610,814 571,145 596,810 Cash and Cash Equivalents, End of Year $ 774,807 $ 695,136 $ 610,814 $ 550,206 125 Note: The numbers above include Extension for FY 2014, 2015, and 2016 only

COLUMBIA 126

COMPOSITE FINANCIAL INDEX COLUMBIA Fiscal Year Ended June 30, 2016 2015 2014 2013 + Primary Reserve Ratio 0.69 0.64 0.63 0.62 / Conversion Factor 0.133 0.133 0.133 0.133 = Strength Factor 5.15 4.84 4.73 4.66 x Weighting Factor 35% 35% 35% 35% = Ratio Subtotal 1.80 1.69 1.65 1.63 Primary Reserve Ratio measures the financial strength of the institution by indicating how long the institution could function using its expendable reserves to cover operations should additional net position not be available. A positive ratio and an increasing amount over time denotes strength. + Return on Assets Ratio 3.8% 3.4% 6.1% 6.3% / Conversion Factor 0.020 0.020 0.020 0.020 = Strength Factor 1.91 1.72 3.05 3.13 x Weighting Factor 20% 20% 20% 20% = Ratio Subtotal 0.38 0.34 0.61 0.63 Return on Assets Ratio measures total economic return. While an increasing trend reflects strength, a decline may be appropriate and even warranted if it represents a strategy on the part of the institution to fulfill its mission. + Net Operating Revenues Ratio 5.7% 3.9% 3.4% 5.2% / Conversion Factor 0.013 0.013 0.013 0.013 = Strength Factor 4.39 3.02 2.64 3.99 x Weighting Factor 10% 10% 10% 10% = Ratio Subtotal 0.44 0.30 0.26 0.40 127 Net Operating Revenues Ratio measures whether the institution is living within available resources. A positive ratio and an increasing amount over time generally reflects strength. + Viability Ratio 1.26 1.19 1.18 1.26 / Conversion Factor 0.417 0.417 0.417 0.417 = Strength Factor 3.02 2.87 2.82 3.02 x Weighting Factor 35% 35% 35% 35% = Ratio Subtotal 1.06 1.00 0.99 1.06 Viability Ratio measures the ability of the institution to cover its debt as of the balance sheet date, should the institution need to do so. A positive ratio greater than 1.00 generally denotes strength. Composite Financial Index 3.68 3.34 3.52 3.71 Composite Financial Index (3 Yr Avg) 3.51 3.52 3.52 3.55 Composite Financial Index (CFI) provides a methodology for a single overall financial measurement of the institution's health based on the four core ratios. The CFI uses a reasonable weighting plan and allows for a weakness or strength in a specific ratio to be offset by another ratio result, which provides a more balanced measure. The CFI provides a more holistic approach to understanding the financial health of the institution. The CFI scores are not intended to be precise measures; they are indicators of ranges of financial health that can be indicators of overall institutional well being when combined with non financial indicators.

MARKET RATIOS COLUMBIA Net Tuition per Student Fiscal Year Ended June 30, 2016 2015 2014 2013 Gross Tuition and Fees $ 470,880 $ 454,818 $ 428,681 $ 416,611 Less: Scholarship Discounts / Allowances (115,226) (111,312) (104,688) (105,367) Less: Scholarship / Fellowship Expenses (37,645) (34,683) (33,989) (31,520) Net Tuition $ 318,009 $ 308,823 $ 290,004 $ 279,724 Net Tuition $ 318,009 $ 308,823 $ 290,004 $ 279,724 Number of Students Fall Semester (FTEs) 30,665 30,531 29,875 29,845 Net Tuition per Student $ 10,370 $ 10,115 $ 9,707 $ 9,373 State Appropriations per Student Fiscal Year Ended June 30, 2016 2015 2014 2013 State Appropriations $ 224,081 $ 219,548 $ 205,505 $ 195,468 Number of Students Fall Semester (FTEs) 30,665 30,531 29,875 29,845 State Appropriations per Student $ 7,307 $ 7,191 $ 6,879 $ 6,549 Educational Expenses per Student Fiscal Year Ended June 30, 2016 2015 2014 2013 128 Total Operating Expenses $ 1,361,722 $ 1,329,549 $ 1,275,095 $ 1,245,376 Less: Scholarships / Fellowships Expense (37,645) (34,683) (33,989) (31,520) Less: Auxiliary Operating Expenses (435,521) (415,378) (399,339) (399,000) Less: Grants and Contracts Expenses (196,887) (193,883) (193,785) (212,378) Interest Expense 24,949 23,873 23,337 17,921 Net Educational Expenses $ 716,618 $ 709,478 $ 671,319 $ 620,399 Net Educational Expenses $ 716,618 $ 709,478 $ 671,319 $ 620,399 Number of Students Fall Semester (FTEs) 30,665 30,531 29,875 29,845 Educational Expenses per Student $ 23,369 $ 23,238 $ 22,471 $ 20,787 Total Tuition Discount Fiscal Year Ended June 30, 2016 2015 2014 2013 Scholarship Allowances $ 115,226 $ 111,312 $ 104,688 $ 105,367 Scholarships / Fellowships Expense 37,645 34,683 33,989 31,520 Total Tuition Discounts ($) $ 152,871 $ 145,995 $ 138,677 $ 136,887 Total Tuition Discounts ($) $ 152,871 $ 145,995 $ 138,677 $ 136,887 Tuition and Fees, Net $ 470,880 $ 454,818 $ 428,681 $ 416,611 Total Tuition Discount (%) 32.5% 32.1% 32.3% 32.9%

CAPITAL RATIOS COLUMBIA Unrestricted Financial Resources to Direct Debt Fiscal Year Ended June 30, 2016 2015 2014 2013 Current Portion of Long Term Debt $ 19,794 $ 19,874 $ 17,575 $ 17,182 Long Term Debt Subject to Remarketing Long Term Debt 714,599 690,264 657,126 588,651 Total Direct Debt $ 734,393 $ 710,138 $ 674,701 $ 605,833 Net Position Unrestricted $ 678,990 $ 584,126 $ 545,368 $ 533,363 Total Direct Debt $ 734,393 $ 710,138 $ 674,701 $ 605,833 Unrestricted Financial Resources to Direct Debt 0.92 0.82 0.81 0.88 Expendable Financial Resources to Direct Debt (Viability Ratio) Fiscal Year Ended June 30, 2016 2015 2014 2013 Net Position Unrestricted $ 678,990 $ 584,126 $ 545,368 $ 533,363 Net Position Restricted Expendable Scholarships, Research, Instruction and Other 202,340 222,216 208,160 190,226 Net Position Restricted Expendable Loans 42,843 42,187 41,225 40,286 Expendable Net Position $ 924,173 $ 848,529 $ 794,753 $ 763,875 Expendable Net Position $ 924,173 $ 848,529 $ 794,753 $ 763,875 Total Direct Debt $ 734,393 $ 710,138 $ 674,701 $ 605,833 129 Viability Ratio 1.26 1.19 1.18 1.26 Total Financial Resources to Direct Debt Fiscal Year Ended June 30, 2016 2015 2014 2013 Net Position Unrestricted $ 678,990 $ 584,126 $ 545,368 $ 533,363 Net Position Restricted Expendable Scholarships, Research, Instruction and Other 202,340 222,216 208,160 190,226 Net Position Restricted Expendable Loans 42,843 42,187 41,225 40,286 Net Position Restricted Nonexpendable 644,297 649,105 635,600 542,642 Total Financial Resources $ 1,568,470 $ 1,497,634 $ 1,430,353 $ 1,306,517 Total Financial Resources $ 1,568,470 $ 1,497,634 $ 1,430,353 $ 1,306,517 Total Direct Debt $ 734,393 $ 710,138 $ 674,701 $ 605,833 Total Financial Resources to Direct Debt 2.14 2.11 2.12 2.16 Direct Debt per Student Fiscal Year Ended June 30, 2016 2015 2014 2013 Total Direct Debt $ 734,393 $ 710,138 $ 674,701 $ 605,833 Number of Students End of Fiscal Year (FTEs) 28,724 30,665 30,531 29,875 Direct Debt per Student $ 25,567 $ 23,158 $ 22,099 $ 20,279

CAPITAL RATIOS COLUMBIA Actual Debt Service to Operations Fiscal Year Ended June 30, 2016 2015 2014 2013 Debt Service Principal $ 19,876 $ 18,078 $ 17,284 $ 22,790 Debt Service Interest 24,949 23,873 23,337 17,921 Total Debt Service $ 44,825 $ 41,951 $ 40,621 $ 40,711 Operating Expenses $ 1,361,722 $ 1,329,549 $ 1,275,095 $ 1,245,376 Less: Scholarships & Fellowships Expense (37,645) (34,683) (33,989) (31,520) Interest Expense 24,949 23,873 23,337 17,921 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 Total Debt Service $ 44,825 $ 41,951 $ 40,621 $ 40,711 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 Actual Debt Service to Operations 3.3% 3.2% 3.2% 3.3% Capital Expense to Operations Fiscal Year Ended June 30, 2016 2015 2014 2013 Depreciation Expense $ 78,252 $ 79,130 $ 76,754 $ 72,805 Interest Expense 24,949 23,873 23,337 17,921 Total Capital Expense $ 103,201 $ 103,003 $ 100,091 $ 90,726 Operating Expenses $ 1,361,722 $ 1,329,549 $ 1,275,095 $ 1,245,376 Less: Scholarships & Fellowships Expense (37,645) (34,683) (33,989) (31,520) Interest Expense 24,949 23,873 23,337 17,921 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 130 Total Capital Expense $ 103,201 $ 103,003 $ 100,091 $ 90,726 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 Capital Expense to Operations 7.7% 7.8% 7.9% 7.4%

BALANCE SHEET RATIOS COLUMBIA Unrestricted Financial Resources to Operations Fiscal Year Ended June 30, 2016 2015 2014 2013 Net Position Unrestricted $ 678,990 $ 584,126 $ 545,368 $ 533,363 Operating Expenses $ 1,361,722 $ 1,329,549 $ 1,275,095 $ 1,245,376 Less: Scholarships & Fellowships Expense (37,645) (34,683) (33,989) (31,520) Interest Expense 24,949 23,873 23,337 17,921 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 Net Position Unrestricted $ 678,990 $ 584,126 $ 545,368 $ 533,363 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 Unrestricted Financial Resources to Operations 0.50 0.44 0.43 0.43 Expendable Financial Resources to Operations (Primary Reserve Ratio) Fiscal Year Ended June 30, 2016 2015 2014 2013 Net Position Unrestricted $ 678,990 $ 584,126 $ 545,368 $ 533,363 Net Position Restricted Expendable Scholarships, Research, Instruction and Other 202,340 222,216 208,160 190,226 Net Position Restricted Expendable Loans 42,843 42,187 41,225 40,286 Expendable Net Position $ 924,173 $ 848,529 $ 794,753 $ 763,875 131 Operating Expenses $ 1,361,722 $ 1,329,549 $ 1,275,095 $ 1,245,376 Less: Scholarships & Fellowships Expense (37,645) (34,683) (33,989) (31,520) Interest Expense 24,949 23,873 23,337 17,921 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 Expendable Net Position $ 924,173 $ 848,529 $ 794,753 $ 763,875 Adjusted Total Operating Expense $ 1,349,026 $ 1,318,739 $ 1,264,443 $ 1,231,777 Primary Reserve Ratio 0.69 0.64 0.63 0.62 Total Financial Resources per Student Fiscal Year Ended June 30, 2016 2015 2014 2013 Net Position Unrestricted $ 678,990 $ 584,126 $ 545,368 $ 533,363 Net Position Restricted Expendable Scholarships, Research, Instruction and Other 202,340 222,216 208,160 190,226 Net Position Restricted Expendable Loans 42,843 42,187 41,225 40,286 Net Position Restricted Nonexpendable 644,297 649,105 635,600 542,642 Total Financial Resources $ 1,568,470 $ 1,497,634 $ 1,430,353 $ 1,306,517 Total Financial Resources $ 1,568,470 $ 1,497,634 $ 1,430,353 $ 1,306,517 Number of Students End of Fiscal Year (FTE) 28,724 30,665 30,531 29,875 Total Financial Resources per Student $ 54,605 $ 48,838 $ 46,849 $ 43,733

OPERATING RATIOS COLUMBIA Annual Operating Margin (Net Operating Revenues Ratio) Fiscal Year Ended June 30, 2016 2015 2014 2013 Operating Inc (Loss) After State Appropriations $ (49,494) $ (66,193) $ (76,990) $ (53,351) Federal Pell Grants 22,521 23,268 23,196 23,294 Federal Appropriations 17,292 18,702 17,967 18,693 Normalized Investment Income 72,107 67,182 63,875 59,799 Private Gifts 44,164 34,820 40,254 36,809 Interest Expense (24,949) (23,873) (23,337) (17,921) Net Operating Surplus (Deficit) $ 81,641 $ 53,906 $ 44,965 $ 67,323 Total Operating Revenues $ 1,088,147 $ 1,043,808 $ 992,600 $ 996,557 Less: Scholarship & Fellowships Expense (37,645) (34,683) (33,989) (31,520) State Appropriations 224,081 219,548 205,505 195,468 Federal Pell Grants 22,521 23,268 23,196 23,294 Federal Appropriations 17,292 18,702 17,967 18,693 Normalized Investment Income (a) 72,107 67,182 63,875 59,799 Private Gifts 44,164 34,820 40,254 36,809 Total Operating Revenues $ 1,430,667 $ 1,372,645 $ 1,309,408 $ 1,299,100 (a) Normalized investment income is equal to 5% of the rolling average balance of total cash and investments over the previous three fiscal years. Net Operating Surplus (Deficit) $ 81,641 $ 53,906 $ 44,965 $ 67,323 Total Operating Revenues $ 1,430,667 $ 1,372,645 $ 1,309,408 $ 1,299,100 132 Net Operating Revenues Ratio 5.7% 3.9% 3.4% 5.2% Debt Service Coverage Fiscal Year Ended June 30, 2016 2015 2014 2013 Total Debt Service $ 44,825 $ 41,951 $ 40,621 $ 40,711 Net Operating Surplus (Deficit) $ 81,641 $ 53,906 $ 44,965 $ 67,323 Add Back: Interest Expense 24,949 23,873 23,337 17,921 Add Back: Depreciation Expense 78,252 79,130 76,754 72,805 Adjusted Net Operating Surplus (Deficit) $ 184,842 $ 156,909 $ 145,056 $ 158,049 Adjusted Net Operating Surplus (Deficit) $ 184,842 $ 156,909 $ 145,056 $ 158,049 Total Debt Service $ 44,825 $ 41,951 $ 40,621 $ 40,711 Debt Service Coverage 4.12 3.74 3.57 3.88 Return on Net Position Fiscal Year Ended June 30, 2016 2015 2014 2013 Change in Net Position $ 95,655 $ 82,943 $ 140,106 $ 135,180 Average Net Position $ 2,497,999 $ 2,408,700 $ 2,297,175 $ 2,159,532 Return on Net Position Ratio 3.8% 3.4% 6.1% 6.3%

CONTRIBUTION RATIOS COLUMBIA Contribution Ratios Fiscal Year Ended June 30, 2015 2016 2015 2014 2013 State Appropriations $ 224,081 $ 219,548 $ 205,505 $ 195,468 Tuition and Fees, Net of Scholarship Allow/Exp 318,009 308,823 290,004 279,724 Auxiliary Enterprises 291,428 279,253 258,006 261,534 Grants and Contracts 196,887 193,883 193,785 212,378 Federal Pell Grants 22,521 23,268 23,196 23,294 Gifts 44,164 34,820 40,254 36,809 Normalized Investment Income (a) 72,107 67,182 63,875 59,799 Patient Care 192,330 174,971 166,756 163,060 Other 69,140 70,897 68,027 67,034 Total $ 1,430,667 $ 1,372,645 $ 1,309,408 $ 1,299,100 State Appropriations 15.7% 16.0% 15.7% 15.0% Tuition and Fees, Net of Scholarship Allow/Exp 22.2% 22.5% 22.1% 21.5% Auxiliary Enterprises 20.4% 20.3% 19.7% 20.1% Grants and Contracts 13.8% 14.1% 14.8% 16.3% Federal Pell Grants 1.6% 1.7% 1.8% 1.8% Gifts 3.1% 2.5% 3.1% 2.8% Normalized Investment Income (a) 5.0% 4.9% 4.9% 4.6% Patient Care 13.4% 12.7% 12.7% 12.6% Other 4.8% 5.2% 5.2% 5.2% Total 100.0% 100.0% 100.0% 100.0% (a) Normalized investment income is equal to 5% of the rolling average balance of total cash and investments over the previous three fiscal years. 133 Operating Expenses by Functional Classifications Fiscal Year Ended June 30, 2016 2015 2014 2013 Instruction $ 329,246 $ 342,362 $ 317,898 $ 302,222 Research 142,807 142,751 141,675 149,562 Public Service 112,562 113,328 109,173 107,773 Academic Support 87,706 84,573 80,045 77,754 Student Services 39,685 38,126 37,280 35,437 Institutional Support 33,809 28,840 17,413 15,142 Operation and Maintenance of Plant 64,489 50,378 61,528 54,161 Auxiliary Enterprises 435,521 415,378 399,339 399,000 Scholarships and Fellowships 37,645 34,683 33,989 31,520 Depreciation 78,252 79,130 76,754 72,805 Total Operating Expenses $ 1,361,722 $ 1,329,549 $ 1,275,095 $ 1,245,376 Instruction 24.2% 25.8% 24.9% 24.3% Research 10.5% 10.7% 11.1% 12.0% Public Service 8.3% 8.5% 8.6% 8.7% Academic Support 6.4% 6.4% 6.3% 6.2% Student Services 2.9% 2.9% 2.9% 2.8% Institutional Support 2.5% 2.2% 1.4% 1.2% Operation and Maintenance of Plant 4.7% 3.8% 4.8% 4.3% Auxiliary Enterprises 32.0% 31.2% 31.3% 32.0% Scholarships and Fellowships 2.8% 2.6% 2.7% 2.5% Depreciation 5.7% 6.0% 6.0% 5.8% Total Operating Expenses 100.0% 100.0% 100.0% 100.0%

STUDENT INFORMATION COLUMBIA Enrollment Fall Semester 2015 2014 2013 2012 Undergraduate Students (Head Count) 27,791 27,642 26,928 26,960 Graduate Students (Head Count) 6,440 6,561 6,434 6,473 Professional Students (Head Count) 1,193 1,222 1,254 1,271 Total Students (Head Count) 35,424 35,425 34,616 34,704 Undergraduate Students (FTE) 25,600 25,371 24,753 24,677 Graduate Students (FTE) 3,894 3,959 3,894 3,921 Professional Students (FTE) 1,171 1,202 1,228 1,248 Total Students (FTE) 30,665 30,531 29,875 29,845 Acceptance Rate First time Freshmen 78% 78% 79% 81% Acceptance Rate Undergraduate Transfers 67% 65% 66% 67% Matriculation First time Freshmen 36% 40% 38% 39% Matriculation Undergraduate Transfers 54% 60% 59% 61% Demographics Fall Semester 2015 2014 2013 2012 Male 47% 47% 47% 47% Female 53% 53% 53% 53% 134 Undergraduate Residence Missouri 72% 73% 75% 77% Undergraduate Residence Out of State 28% 27% 25% 23% Undergraduate Full Time 94% 94% 94% 93% Undergraduate Part Time 6% 6% 6% 7% Graduate Full Time 59% 59% 60% 60% Graduate Part Time 41% 41% 40% 40% White 76.9% 77.4% 78.2% 79.0% Black or African American 7.3% 7.3% 7.2% 7.2% Non Resident Alien 7.2% 6.9% 6.6% 6.3% Asian / Pacific Is. 2.2% 2.3% 2.2% 2.3% Hispanic 3.5% 3.3% 3.1% 2.9% Other 2.9% 2.8% 2.7% 2.3% Degrees Awarded Fiscal Year Ended June 30, 2016 2015 2014 2013 Baccalaureate 6,283 5,995 5,769 5,692 Graduate Certificate 225 239 226 225 Master's 1,619 1,571 1,580 1,515 Educational Specialist 51 82 65 63 Doctoral 416 435 390 411 First Professional Degree 308 346 339 332 Total 8,902 8,668 8,369 8,238

STATEMENT OF NET POSITION - BY FUND Total Endowment Funds Current Funds Loan & Similar Plant Excluding Unrestricted Restricted Funds Funds Funds Agency Retirement Assets Current Assets: Cash in Bank $ 373,839 $ 203,054 $ - $ 46,460,919 $ 19,097 $ 3,114,843 $ 50,171,753 Investment in Treasury General Pool 427,502,630 61,225,657 21,065,975 40,631 215,419,415 (619,302) 724,635,006 Short Term Investments - - - 3,834,331-159,739 3,994,070 Investment of Cash Collateral - - - - - - - State Appropriations Receivable - - - - 5,243,225-5,243,225 Federal Appropriations Receivable 9,743,822 - - - - - 9,743,822 Grants and Contracts Receivable, net (299,000) 45,296,770 - - - (7,589) 44,990,181 Patient Services Receivable, net 17,433,445 - - - - - 17,433,445 Current Pledges Receivable, net - 7,704,649 - - 4,832,285-12,536,934 Other Accounts Receivable, net 32,163,035 98,939 442,525-138,635 1,026,966 33,870,099 Investment Settlements Receivable - - - - - - - Suspense/Clearing - - - - - - - Inventories 14,617,984 - - - - 20,476 14,638,460 Prepaid Expenses 9,201,132 533,480 - - - 3,893,026 13,627,638 Current Notes Receivable, net - - 4,017,576 - - - 4,017,576 Due from Other Funds - - - - - - - Total Current Assets 510,736,888 115,062,549 25,526,076 50,335,881 225,652,657 7,588,159 934,902,210 Noncurrent Assets: Restricted Cash and Cash Equivalents - - - - - - - Pledges Receivable, net - 20,885,605 - - 6,973,610-27,859,215 Notes Receivable, net - - 19,949,157-49,515,736 263,644 69,728,537 Deferred Charges and Other Assets 16 - - - - - 16 Long Term Investments 231,804 354,460-783,261,699 504,276 49,971,699 834,323,939 Capital Assets, net - - - - 1,615,527,140-1,615,527,140 Total Noncurrent Assets 231,820 21,240,065 19,949,157 783,261,699 1,672,520,763 50,235,344 2,547,438,848 Deferred Outflow of Resources - - - - - - - Total Assets $ 510,968,708 $ 136,302,614 $ 45,475,233 $ 833,597,581 $ 1,898,173,419 $ 57,823,503 $ 3,482,341,058 Liabilities Current Liabilities: Accounts Payable $ 10,769,810 $ 2,214,137 $ - $ 7,493,158 $ 15,823,701 $ 54,796 $ 36,355,602 Accrued Payroll 21,560,974 669,722 - - 430 80,476 22,311,602 Accrued Vacation 30,470,922 3,281,322 - - - 497,303 34,249,548 Accrued Interest Payable - - - - - - - Accrued Self-Insurance Claims - - - - - - - Deferred Revenue, Current 34,247,398 15,758,859 - - 2,008,888 158,311 52,173,457 Payroll Withholdings and Other Employee Benefits - - - - - 99,621 99,621 Funds Held for Others - - - - 56,932,995 56,932,995 Investment Settlements Payable - - - - - - - Collateral for Securities on Loan - - - - - - - Long-Term Debt, current - - - - 19,793,693-19,793,693 Due to Other Funds - - - - - - - Total Current Liabilities 97,049,104 21,924,041-7,493,158 37,626,712 57,823,503 221,916,519 135

STATEMENT OF NET POSITION - BY FUND Total Endowment Funds Current Funds Loan & Similar Plant Excluding Unrestricted Restricted Funds Funds Funds Agency Retirement Noncurrent Liabilities: Deferred Revenue - - - - - - - Derivative Instrument Liability - - - - - - - Long-Term Debt - - - - 714,598,978-714,598,978 Other Post Employment Benefits Liability - - - - - - - Net Pension Liability - - - - - - - Total Noncurrent Liabilities - - - - 714,598,978-714,598,978 Deferred Inflow of Resources - - - - - - - Net Position Total Liabilities 97,049,104 21,924,041-7,493,158 752,225,690 57,823,503 936,515,497 Invested in Capital Assets, Net of Related Debt - - - - 945,242,605-945,242,605 Reserved for Employees' Pension Plan - - - - - - - Restricted: Nonexpendable - - - 644,297,244 - - 644,297,244 Expendable - 114,378,573 42,843,129 87,960,227 32,113,304-277,295,232 Unrestricted 413,919,604-2,632,104 93,846,953 168,591,819-678,990,480 Total Net Position 413,919,604 114,378,573 45,475,233 826,104,423 1,145,947,729-2,545,825,561 Total Liabilities and Net Position $ 510,968,708 $ 136,302,614 $ 45,475,233 $ 833,597,581 $ 1,898,173,419 $ 57,823,503 $ 3,482,341,058 136

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BY FUND For the Year Ending June 30, 2016 Total Funds Endowment Excluding Current Funds Loan & Similar Plant Agency and Unrestricted Restricted Funds Funds Funds Retirement Operating Revenues: Student Fees $ 470,480,311 $ 400,185 $ - $ - $ - $ 470,880,496 Less: Scholarship Allowances 71,471,365 43,754,917 - (691) - 115,225,591 Net Student Fees 399,008,945 (43,354,732) - 691-355,654,904 Federal Grants and Contracts - 109,110,995 70,824 - - 109,181,819 State and Local Grants and Contracts - 42,432,966 - - - 42,432,966 Private Grants and Contracts - 45,272,105 - - - 45,272,105 Sales and Services of Education Activities 15,844,947 1,271 - - 1,649 15,847,866 Auxiliary Enterprises: Patient Medical Services 192,329,670 - - - - 192,329,670 Housing and Dining Services 75,156,584 - - - - 75,156,584 Bookstores 53,762,716 - - - - 53,762,716 Other Medical Services 1,151,646 - - - - 1,151,646 Other Auxiliary Enterprises 161,356,049 - - - - 161,356,049 Notes Receivable Interest Income, Net of Fees - - 439,576 - - 439,576 Other Operating Revenues 33,124,579 1,453,421 16,565 11,581 745,572 35,351,717 Facilities & Administrative Cost Recovery 35,540,689 (35,331,599) - - - 209,090 Total Operating Revenues 967,275,824 119,584,426 526,965 12,272 747,221 1,088,146,708 Operating Expenses: Salaries and Wages 648,497,773 98,245,004 - - 24,521 746,767,298 Staff Benefits 179,729,092 23,705,233 - - (625) 203,433,700 Supplies, Services and Other Operating Expenses 202,111,166 70,759,673 329,011 416,356 21,175,223 294,791,429 Scholarships and Fellowships 37,645,000 - - - - 37,645,000 Capital Expense 9,576,315 4,467,587 - - (13,211,054) 832,848 Depreciation - - - - 78,252,342 78,252,342 Total Operating Expenses 1,077,559,346 197,177,497 329,011 416,356 86,240,407 1,361,722,617 Operating Income (Loss) before State Appropriations and Nonoperating Revenues (Expenses) (110,283,522) (77,593,071) 197,954 (404,084) (85,493,186) (273,575,909) State Appropriations 220,491,068 3,590,140 - - - 224,081,208 Operating Income (Loss) after State Appropriations, before Nonoperating Revenues (Expenses) 110,207,546 (74,002,931) 197,954 (404,084) (85,493,186) (49,494,701) Nonoperating Revenues (Expenses): Federal Appropriations 17,291,695 - - - - 17,291,695 Federal subsidies for Build America Bonds interest - - - - - - Pell Grants - 22,521,010 - - - 22,521,010 Realized Gain/Loss 7,653,216 33,743,576 470,060 (1,361,963) 1,210,272 41,715,161 Unrealized Gain/Loss - - - (36,802,295) - (36,802,295) Private Gifts 17,233,093 23,358,298 636,887 2,935,724-44,164,002 Interest Expense - - - - (24,949,179) (24,949,179) Retirement Benefits, Net of University Contribution - - - - - - Payments to Beneficiaries - - - (896,044) - (896,044) Gain/Loss on Asset Disposal 551,949 7,029 - - (5,945,581) (5,386,602) Other Nonoperating Revenues (Expenses) - - - - - - Net Nonoperating Revenues (Expenses) before Capital and Endowment Additions and Transfers 42,729,954 79,629,912 1,106,947 (36,124,578) (29,684,487) 57,657,748 137

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BY FUND For the Year Ending June 30, 2016 Total Funds Endowment Excluding Current Funds Loan & Similar Plant Agency and Unrestricted Restricted Funds Funds Funds Retirement State Capital Appropriations and State Bond Funds - - - - 22,247,694 22,247,694 Capital Gifts - - - - 7,740,389 7,740,389 Capital Grants - - - - - - Private Gifts for Endowment Purposes - - - 25,203,411-25,203,411 Net Other Nonoperating Revenues (Expenses) before Transfers 42,729,954 79,629,912 1,106,947 (10,921,167) 303,597 112,849,243 Mandatory Transfers In (Out) (51,844,918) 26,142 (611,309) 151,477 52,338,060 59,453 Non Mandatory Transfers In (Out) (64,414,379) (5,943,004) (5,487) 1,720,322 74,666,386 6,023,837 Intra Fund Transfers In (Out) 26,090,808 126,267 - - - 26,217,076 General Revenue Allocations - - - - - - Net Nonoperating Revenues (Expenses) and Transfers (47,438,535) 73,839,318 490,150 (9,049,368) 127,308,043 145,149,609 Increase (Decrease) in Net Assets 62,769,012 (163,613) 688,104 (9,453,452) 41,814,857 95,654,908 Net Position, Beginning of Year 351,150,592 114,542,186 44,787,128 835,557,875 1,104,132,872 2,450,170,653 Cumulative Effect of Change in Accounting Principle - - - - - - Net Position, Beginning of Year, Adjusted 351,150,592 114,542,186 44,787,128 835,557,875 1,104,132,872 2,450,170,653 Net Position, End of Year $ 413,919,604 $ 114,378,573 $ 45,475,233 $ 826,104,423 $ 1,145,947,729 $ 2,545,825,561 138

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - UNRESTRICTED CURRENT FUNDS ONLY For the Year Ending June 30, 2016 General Operating - Funds 0000 through 0090 Continuing Education - Fund 0445 and 0450 Unrestricted Current Funds Auxiliary Operations - Funds 0100 through 0699 Service Operations - Funds 0700 through 0899 Self Insurance Funds - Funds 0900 through 0999 Total Unrestricted Current Funds Operating Revenues: Student Fees $ 432,023,141 $ 38,457,169 $ - $ - $ - $ 470,480,311 Less: Scholarship Allowances 71,421,527 35,478-14,360-71,471,365 Net Student Fees 360,601,615 38,421,691 - (14,360) - 399,008,945 Federal Grants and Contracts - - - - - - State and Local Grants and Contracts - - - - - - Private Grants and Contracts - - - - - - Sales and Services of Education Activities 13,389,798 116,620-2,338,528-15,844,947 Auxiliary Enterprises: Patient Medical Services - - 192,329,670 - - 192,329,670 Housing and Dining Services - - 75,156,584 - - 75,156,584 Bookstores - - 53,762,716 - - 53,762,716 Other Medical Services 1,151,646 - - - - 1,151,646 Other Auxilliary Enterprises - - 161,356,049 - - 161,356,049 Notes Receivable Interest Income, Net of Fees - - - - - - Other Operating Revenues 63,759,929 798,196-4,107,142-68,665,267 Total Operating Revenues 438,902,988 39,336,507 482,605,019 6,431,310-967,275,824 Operating Expenses: Salaries and Wages 377,051,937 5,456,094 232,589,551 33,400,191-648,497,773 Staff Benefits 111,742,647 1,214,820 56,024,574 10,747,051-179,729,092 Supplies, Services and Other Operating Expenses 113,784,142 3,755,502 145,557,655 (60,986,132) - 202,111,166 Scholarships and Fellowships 37,645,000 - - - - 37,645,000 Capital Expense 8,228,303-1,348,949 (937) - 9,576,315 Depreciation - - - - - - Total Operating Expenses 648,452,029 10,426,416 435,520,729 (16,839,827) - 1,077,559,346 Operating Income (Loss) before State Appropriations and Nonoperating Revenues (Expenses) and Transfers (209,549,041) 28,910,091 47,084,290 23,271,138 - (110,283,522) State Appropriations 220,491,068 - - - - 220,491,068 Operating Income (Loss) after State Appropriations, before Nonoperating Revenues (Expenses) and Transfers 10,942,027 28,910,091 47,084,290 23,271,138-110,207,546 Nonoperating Revenues (Expenses) and Transfers: Federal Appropriations 17,291,695 - - - - 17,291,695 Federal subsidies for Build America Bonds interest - - - - - - Pell Grants - - - - - - Realized Gain/Loss 7,214,030-439,186 - - 7,653,216 Unrealized Gain/Loss - - - - - - Private Gifts - - 17,233,093 - - 17,233,093 Interest Expense - - - - - - Retirement Benefits, Net of University Contribution - - - - - - Payments to Beneficiaries - - - - - - Gain/Loss on Asset Disposal 353,438 8,047 64,505 125,960-551,949 Other Nonoperating Revenues (Expenses) - - - - - Net Nonoperating Revenues (Expenses) before Capital and Endowment Additions and Transfers 24,859,163 8,047 17,736,783 125,960-42,729,954 139

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - UNRESTRICTED CURRENT FUNDS ONLY For the Year Ending June 30, 2016 Unrestricted Current Funds General Operating - Funds 0000 through 0090 Continuing Education - Fund 0445 and 0450 Auxiliary Operations - Funds 0100 through 0699 Service Operations - Funds 0700 through 0899 Self Insurance Funds - Funds 0900 through 0999 Total Unrestricted Current Funds State Capital Appropriations and State Bond Funds - - - - - - Capital Gifts - - - - - - Capital Grants - - - - - - Private Gifts for Endowment Purposes - - - - - - Net Other Nonoperating Revenues (Expenses) before Transfers 24,859,163 8,047 17,736,783 125,960-42,729,954 Mandatory Transfers In (Out) (5,026,747) - (35,674,773) (11,143,397) - (51,844,918) Non Mandatory Transfers In (Out) (26,397,043) (158,482) (17,539,388) (20,319,466) - (64,414,379) Intra Fund Transfers In (Out) 2,336,066 (24,641,009) 42,156,687 6,239,064-26,090,808 General Revenue Allocations - - - - - - Net Nonoperating Revenues (Expenses) and Transfers (4,228,561) (24,791,444) 6,679,309 (25,097,839) - (47,438,535) Increase (Decrease) in Net Assets 6,713,466 4,118,647 53,763,599 (1,826,701) - 62,769,012 Net Position, Beginning of Year 321,539,225 22,117,778 5,088,784 2,404,805-351,150,592 Cumulative Effect of Change in Accounting Principle - - - - - - Net Position, Beginning of Year, Adjusted 321,539,225 22,117,778 5,088,784 2,404,805-351,150,592 Net Position, End of Year $ 328,252,692 $ 26,236,425 $ 58,852,383 $ 578,104 $ - $ 413,919,604 140

CURRENT FUNDS OPERATING REVENUES For the Year Ending June 30, 2016 Operating Revenues: Student Fees - Current Funds Total Unrestricted Restricted Funds Educational Fees $ 370,638,973 $ - $ 370,638,973 Extension Credit Courses 34,991,536-34,991,536 Extension Non Credit Courses 3,963,134 397,935 4,361,069 Supplemental Fees 37,923,490-37,923,490 Instructional Computing Fees 12,325,275-12,325,275 Other Student Fees 10,637,901 2,250 10,640,151 Less: Scholarship Allowances 71,471,365 43,754,917 115,226,282 Net Student Fees 399,008,945 (43,354,732) 355,654,213 Federal Grants and Contracts - Department of: Agriculture - 16,358,383 16,358,383 Commerce - 1,170,712 1,170,712 Defense - 6,345,342 6,345,342 Education - 7,057,500 7,057,500 Energy - 2,798,260 2,798,260 Health and Human Services - Public Health Service - 48,629,540 48,629,540 Interior - 857,620 857,620 Labor - - - Environmental Protection Agency - 74,246 74,246 Transportation - 25,821 25,821 Agency for International Development - - - National Aeronautics and Space Administration - 635,966 635,966 National Endowment for the Arts/Humanities - 75,527 75,527 National Science Foundation - 20,525,526 20,525,526 Other Federal Agencies - 2,387,890 2,387,890 Small Business Administration - 2,168,662 2,168,662 Total Federal Grants and Contracts - 109,110,995 109,110,995 State and Local Grants and Contracts - 42,432,966 42,432,966 Private Grants and Contracts - 45,272,105 45,272,105 Sales and Services of Education Activities 15,844,947 1,271 15,846,217 Auxiliary Enterprises - Patient Medical Services 192,329,670-192,329,670 Housing and Dining Services 75,156,584-75,156,584 Bookstores 53,762,716-53,762,716 Other Medical Services 1,151,646-1,151,646 Other Auxiliary Enterprises 161,356,049-161,356,049 Notes Receivable Interest Income, Net of Fees - - - Other Operating Revenues - F&A Recovery 35,540,689 (35,331,599) 209,090 Other 33,124,579 1,453,421 34,577,999 Total Operating Revenues $ 967,275,824 $ 119,584,426 $ 1,086,860,251 141

OPERATING EXPENSES BY OBJECT MATRIX For the Year Ending June 30, 2016 Educational & General (A) Salary & Wage Staff Benefits Supplies, Services and Other Operating Expenses Scholarships and Fellowships Depreciation Total Instruction $ 236,822,674 $ 65,488,350 $ 26,934,772 $ - $ - $ 329,245,797 Research 75,269,401 19,153,318 48,383,876 - - 142,806,595 Public Service 61,497,302 18,441,758 32,623,401 - - 112,562,461 Academic Support 48,121,648 14,852,458 24,731,479 - - 87,705,585 Student Services (B) 22,017,071 6,482,174 10,440,874 - - 38,940,119 Institutional Support ( C) 52,226,758 16,908,815 (35,326,781) - - 33,808,792 Operation & Maintenance of Plant 18,198,372 6,082,879 32,220,515 - - 56,501,766 Scholarships & Fellowships (D) - - - 37,645,000-37,645,000 Total Educational & General 514,153,225 147,409,752 140,008,138 37,645,000-839,216,114 Auxiliary Enterprises (E) 232,589,551 56,024,574 146,906,604 - - 435,520,729 Total Current Funds Operating Expenses 746,742,777 203,434,325 286,914,741 37,645,000-1,274,736,843 Loan Funds (F) - - 329,011 - - 329,011 Endowment Funds (F) - - 416,356 - - 416,356 Plant Funds (G) 24,521 (625) 7,964,169 - - 7,988,064 Depreciation - - - - 78,252,342 78,252,342 Total Operating Expenses - All Funds $ 746,767,298 $ 203,433,700 $ 295,624,277 $ 37,645,000 $ 78,252,342 $ 1,361,722,617 (A) Educational and General Expenditures includes all expenditures for the General Operating Fund (0000), the Clearing Fund (0090), Continuing Education (0445, 0450) and the Restricted Current Funds (I.e. Grant and State Appropriation Funds). (B) Student Services includes all Deptid activity for attributes 5x and 8x. Therefore, operating expenses related to the University's Financial Aid functions are included in Student Services. (C ) Institutional Support includes all Depid activity for attributes 6x, AGEN, MTRF, NTRF, RET and UNDF. (D) Scholarships and Fellowships includes expenditures in account range 764000-764999, based on criteria established by GASB. The remaining Financial Aid Expense is recorded net of the related Tuition and Fees. (E) Auxiliary Enterprises includes activity for attribute AUX, and for all funds in the auxilary range of 0100-0443, 0455-0699. (F) Loan and Endowment Fund expenses are included in the category of Student Services on the audited financial statements. (G) Plant Fund expenses are included in the category of Operation and Maintenance of Plant on the audited financial statements. 142

AUXILIARY AND SERVICE OPERATIONS Non-Operating Revenues, Net Position Expenditures & Net Position July 1, 2015 Revenues Expenses Transfers June 30, 2016 AUXILIARIES: Intercoll Athletics Auxiliary $ (7,210,608) $ 62,115,779 $ 70,647,918 $ 11,604,122 $ (4,138,625) Catering (30,080) 1,139,958 1,054,002-55,875 Bookstore - 53,762,716 50,247,553 (3,515,163) 0 Dining Services Exclud Housing - 6,579,168 6,737,527 158,359 (0) Housing (0) 68,577,416 39,126,314 (29,451,102) - Independent Study Student Serv 11,446 - - (11,446) - Multipurpose Auditorium (16,010) 1,048,391 475,802 (574,911) (18,332) Parking 399,990 8,789,768 3,459,730 (5,702,210) 27,818 Residence Hall Parking 406,068 71,791 19,507 4,098 462,449 Student Health Center 1,212,329 6,896,157 7,011,618 (112,164) 984,704 University Centers - 4,192,609 1,838,839 (2,353,771) - Vending 87,527 216,003 21,236-282,294 Other Student Auxiliaries - (26,070) 2,226,979 2,253,049 - Recreation Facilities - 10,303,884 4,633,921 (5,669,963) - Adventure Club 230,681 2,525,467 2,358,702 (19,348) 378,098 Assessment Resource Center 984,674 1,068,167 1,314,440 (33,707) 704,695 Hook Center Auxiliary Oper 84,521 1,881,115 1,584,290 43,776 425,122 Child Development - - 3,465 3,465 - College Base 3,563 87,393 70,057 (19,246) 1,654 Depart of Ortho Surg - CME 12,425 7,000 16,846-2,578 Foundation Seeds 423,808 743,973 682,014 4,815 490,583 Golf Course 6,907 840,629 717,995 (77,142) 52,399 CARTS & Perf Based Support - - - 40,128,285 40,128,285 Intensive English Program 3,717,974 2,052,808 2,146,033 (333,013) 3,291,737 International Center 1,029,692 2,437,149 2,248,175 (16,455) 1,202,211 K-12 Virtual Schools (68,689) 3,052,914 2,497,257 (42,488) 444,481 Medical Contracted Services 995,701 5,986,293 5,524,054 (1,852,632) (394,692) Optical Shop (143,517) 276,282 321,888 - (189,123) Psychological Clinic 120,464 328,804 238,407-210,861 Research Animal Diag Lab (367) - - 367 - Research Reactor (1,360,501) 17,693,442 14,813,759 (1,735,266) (216,083) Television Station - 9,656,674 8,804,437 (830,996) 21,241 University Physicians 5,260,634 192,329,670 185,516,657 3,532,137 15,605,785 University Press (1,604,583) 711,690 1,395,080 475,000 (1,812,973) Vet Med Diagnostic Lab 544,185 1,467,453 1,048,906 (18,305) 944,428 Vet Med Teaching Hospital (1,939,091) 11,605,071 11,667,114 (40,134) (2,041,269) emints Operations 416,784 939,437 1,463,470 52,653 (54,596) Miscellaneous Other Auxiliarie 1,512,857 3,246,018 3,586,739 828,643 2,000,779 Total Auxiliaries 5,088,784 482,605,019 435,520,729 6,679,309 58,852,383 SERVICE OPERATIONS: Academic Support Center 82,128 6,944 (132,505) (124,555) 97,023 AES Reseach Support 150,736 54 (74,419) (47,782) 177,427 143

AUXILIARY AND SERVICE OPERATIONS Non-Operating Revenues, Net Position Expenditures & Net Position July 1, 2015 Revenues Expenses Transfers June 30, 2016 Auto Leasing - - (104,956) (101,689) 3,267 Campus Plng, Design, Constr 746,474 2,434 (14,725) (123,322) 640,311 Central Mail - 26 7,066 7,040 (0) Chemistry Storeroom 5,509-21,797 - (16,288) Computing Services 22,911 118,780 (1,937,082) (2,159,875) (81,102) Energy Management 64,114 1,248,124 (22,655,224) (23,954,988) 12,474 Feed Mill Operations (164,290) 14,566 (24,941) (8,436) (133,219) General Stores - 378,060 339,128 (38,932) - Lab Animal Medicine 40,829 80,277 39,921 (92,391) (11,206) Maint, Grds, Build Serv 35,805 6,405 (115,117) (71,182) 86,144 Physics Shop (23,274) 10,033 (9,559) (49,060) (52,742) Police/Security Oper 67,679 2,875 (119,804) (115,949) 74,409 Printing - 1,342,497 1,206,415 (136,082) 0 Secretarial and Office Support 1,869 1,195 (159,520) 0 162,584 Telecommunications (369,498) 12 66,684 220,046 (216,123) Other Service Oper 1,743,813 3,219,028 6,827,013 1,699,318 (164,853) Total Service Operations $ 2,404,805 $ 6,431,310 $ (16,839,827) $ (25,097,839) $ 578,104 144

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - FOR SELECT AUXILIARY OPERATIONS For the Year Ending June 30, 2016 Intercollegiate Athletics Parking Memorial Union Television Station Bookstore Campus Dining Housing System Operating Revenues: Student Fees $ (83,338) $ (200) $ (99,885) $ (8,933,050) $ 1,435,522 $ 3,975,167 $ - Sales and Services of Auxiliary and Education Activities 53,229,606 6,369,876 68,406,225 65,051,548 7,354,246 18,207 9,656,674 Other Operating Revenues 616,447 209,493 271,076 5,997,281-199,235 - Total Operating Revenues 53,762,716 6,579,168 68,577,416 62,115,779 8,789,768 4,192,609 9,656,674 Operating Expenses: Salaries and Wages 5,866,025 2,034,514 13,363,164 28,329,447 620,566 1,195,078 3,175,646 Staff Benefits 1,422,455 304,345 4,931,469 6,903,050 141,591 252,536 901,738 Cost of Goods Sold 38,154,490 2,757,875 5,889,209 655,802 - - 1,065,144 Utilities 255,087 370,006 5,543,039 2,658,204 352,611 281,961 107,713 Supplies and Non Capital Equipment 1,628,837 564,966 6,201,411 4,881,088 868,843 608,884 352,693 Professional and Consulting Services 119,626 38,980 379,292 4,348,253 126,908 9,243 206,763 Other Departmental Operating Expense 2,801,034 666,842 2,818,729 22,872,074 1,349,211 (508,863) 2,994,740 Total Operating Expenses 50,247,553 6,737,527 39,126,314 70,647,918 3,459,730 1,838,839 8,804,437 Operating Income (Loss) before Other Nonoperating Revenues (Expenses) and Transfers 3,515,163 (158,359) 29,451,102 (8,532,138) 5,330,038 2,353,771 852,237 Other Nonoperating Revenues (Expenses) and Transfers: Investment and Endowment Income (106,046) 173 188,197 (59,370) 20,759 14,058 - Private Gifts - - - 17,233,093 - - - Interest Expense - - - - - - - Other Nonoperating Revenues and Expenses 7,130-14,227 12,873 - - 442 Transfers (3,416,247) 158,186 (29,653,526) (5,582,474) (5,722,968) (2,367,828) (831,438) Net Other Nonoperating Revenues (Expenses) and Transfers (3,515,163) 158,359 (29,451,102) 11,604,122 (5,702,210) (2,353,771) (830,996) Increase (Decrease) in Net Position 0-0 3,071,984 (372,172) - 21,241 Net Position, Beginning of Year - - (0) (7,210,608) 399,990 - - Net Position, End of Year $ 0 $ - $ (0) $ (4,138,625) $ 27,818 $ - $ 21,241 145

LOAN FUNDS Restricted: Balance Gifts, Grants Income From Investments & Transfers Balance July 1, 2015 & Contracts Student Loans Other Income Deductions In(Out) June 30, 2016 HEALTH PROFESSIONS $ 2,138,359 $ - $ 110,922 $ 3,475 $ 119,718 $ - $ 2,133,037 HEALTH PROF VET MEO 3,311,203-59,576 9,013 - - 3,379,793 HPL-DISADVANTAGED 235,327-4,318 874 - - 240,519 FEDERAL PERKINS LOAN 17,240,607-196,553 32,056 209,109-17,260,108 NURSING LOAN FD 1,683,023-38,523 5,145 - - 1,726,690 NURSING LOAN - GRAD 108,863-781 287 - - 109,931 ALLOW-DOUBTFUL LOANS (1,222,471) - - - (2,772) - (1,219,698) ALPHA EPSILON PHI 856 - - 9 - - 865 ALPHA PHI OMEGA 7,389-144 33 - - 7,566 AM ASSN OF UN WOMEN 563 - - 6 - - 568 AMA-ERF LOAN FUND 154,461-3,093 1,018 - - 158,572 ANTONOWSKY MEM LOAN 92,317 - - 907 - - 93,224 MO PROD CREDIT ASSN 2,538 - - - - - 2,538 J W BAGBY MD LOAN 12,153-151 104 - - 12,407 RAY BAIRD FUND 130,846 - (1,062) - - (1,038) 128,746 L D & M M BAKER LOAN 48,829 - - 471 - - 49,300 WM S BAKER LOAN FUND 41,437 - - 649 - - 42,087 J H BARNS LOAN FUND 9,513 - - 96 - - 9,608 NETTIE BARTH LOAN 121,073 - (1,235) 1,319 - - 121,157 BASORE LOAN FUND 208,646-3,161 14,623 - - 226,429 BAUER DELTA SIGMA PI 13,190-0 132 - - 13,323 E E BEIMDIEK LOAN 404 - - 4 - - 408 PHIL BERK MEMORIAL 2,254 - - 23 - - 2,277 R & BERKEBILE 85,180-10 854 - - 86,045 W B BICKLEY 23,375 5,850 94-176 - 29,143 WM A BLACKWELL MEM 12,930 - - 192 - - 13,122 BLAKEY LOAN FUND 109,720-260 971 - - 110,951 MARY BLYTHE SCH 49,590-693 307 - - 50,590 J H BOTHWELL FUND 29,222 - - 588 - - 29,810 E B BRANSON MEMORIAL 31,335-321 247 - - 31,904 BREIMYER LOAN FUND 35,114 250 455 286 8-36,097 JOHN K BRYAN 10,847-520 - - (520) 10,847 HUGH AND FLO BRYANT 351 - (290) - - (60) 0 J W BURCH LOAN FUND 111,918-604 1,038 - - 113,560 NEWT CARSON LOAN 68,043 - (3,454) 413 - - 65,002 CARUTHERS LOAN FUND 7,429-64 66 - - 7,560 M CASTELAZ LOAN FUND 11,945 - - 120 - - 12,065 CHINESE CERT LOAN 5,426 - - 54 - - 5,480 146

LOAN FUNDS Restricted: Balance Gifts, Grants Income From Investments & Transfers Balance July 1, 2015 & Contracts Student Loans Other Income Deductions In(Out) June 30, 2016 M J RIGLER CLENDENON 8,338-230 19 - - 8,587 PANHELLENIC ASSN LN 2,813 - - 28 - - 2,841 COLL BUS & PUB ADMIN 54,796-271 419 - - 55,486 COLL OF AGR 10,632-222 - - (244) 10,610 CARL CORNETT LOAN 303,407-2,196 1,988 - - 307,591 H J DIFFENBAUGH LOAN 805,408-9 51,463 - (602,789) 254,091 DOBBS STUDENT LOAN 44,994-104 439 - - 45,538 FINNIS O DUNCAN FUND 80,335-425 693 - - 81,453 RUSSELL ELLIOTT 414,212-7 4,045 - - 418,264 ARTHUR EMIG LOAN 16,069 - - 161 - - 16,230 FEARN STUDENT LOAN 8,705 - - 87 - - 8,792 FED GARDEN CLUBS MO 4,082 - - 41 - - 4,123 FINE LOAN - FORESTRY 22,922-12 179 - - 23,112 D FLYNN LOAN FUND 6,201 - - 62 - - 6,263 C V FORREST LOAN 4,194 - - 42 - - 4,236 COL OF ENGR LOAN FD 45,597-14 448 - - 46,059 B H FRAME AG EC STAT 116,859-35 6,045 - - 122,939 SAVITAR FROLICS LOAN 17,656 - - 177 - - 17,833 GAMMA ALPHA 5,649 - - 57 - - 5,705 STEVENS GANSON FUND 69,394 - - 680 - - 70,074 GEORGE W GAY LOAN 52,853-596 430 - (1,201) 52,678 GEN MED SCHOL LOAN 34,272 - - 310 - - 34,582 GENERAL MEMORIAL FD 222,934-2,398 1,778 - - 227,110 GENERAL STUDENT LOAN 2,121 - - 21 - - 2,142 GSDC OF ST LOUIS FD 26-51 (6) - - 71 N P GIST LOAN FUND 10,798 - (2,000) - - - 8,798 GORDON LOAN & SCHOLA 102,793-29 950 - - 103,773 GRAY MEMORIAL LOAN 1,617,726 - (3,969) 17,832 - - 1,631,589 GRESCHNER FUND 147,491-827 7,972 - - 156,290 GUNDLACH MEMORIAL 42,924 - - 406 - - 43,330 HAMILTON LOAN & SCHP 41,865-25 365 - (1,026) 41,229 S HANSEN MEM LOAN FD 795 - - 8 - - 803 HARTVIGSEN STUDENT LOAN 5 - - 5 - (9) - C HAUSCHILD LOAN FD 19,768 - - 1 - (128) 19,640 R HAVERFIELD MEM 848 - - - - - 848 G L HAWKINS AID FUND 46,449-0 466 - - 46,915 D HEINKEL LOAN FUND 9,431 - - 95 - - 9,525 R W HEUCHAN MEM FUND 5,014 - - 50 - - 5,065 147